That is interesting, going by that, if they strike, it will be big. In the meantime, apart from the huge amount of exploration drilling currently underway this share is massively undervalued.
Market cap after the share placements (assuming 300 m shares X $1.475) at current prices would be $445m vs a market cap of $302m prior to the announcement of the deal, an increase of around 50%. The point is, reserves have gone up 190%.
IMO, a strike at any of the high impact wells now under way and about to get under way could add a $1 to the share price. Then another $0.50 for the exploration premium that is missing now. That's double what they are currently trading at. Even without a strike they should be at least $2, just on fundamentals.
That is interesting, going by that, if they strike, it will be...
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Last
14.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $44.26M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 14.8¢ | 14.5¢ | $14.50K | 99.82K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1828966 | 14.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 3419686 | 23 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| 5GN (ASX) Chart |